The corporate practice group of Harry Elias Partnership has advised Siemens Project Ventures GMBH (“Siemens”), the venture capital financing arm of the global technology company, Siemens AG, in relation to its investment in Singapore Aquaculture Technologies (SAT) Pte Ltd (“SAT”) for an aggregate investment amount of S$6.72 million. The investment closed in August 2021.
SAT engages in innovative aquaculture operations and technology development for the same, including but not limited to operating and developing technology for aquaculture systems and selling fish and aquaculture system components. The operations of SAT are based in Singapore. As SAT’s first institutional shareholder, the investment from Siemens accounts for a significant minority stake in SAT.
The Harry Elias team conducted legal due diligence on SAT, reviewed and negotiated the subscription agreement and shareholders’ agreement and assisted in the closing of the investment.
Partner Derick Ting, Senior Associate Yu Yitian and Associate Howard Goh advised on the transaction.